The Classical Academies Acquires Office In Oceanside For $12M
SOLD
$12,000,000
+ 2
California
See Similar DealsOffice100,000 SF
Sold 07/13/2022
SOLD
The Classical Academies Acquires Office In Oceanside For $12M
1305 Union Plaza Court, Oceanside, California 92054, United States
See Similar DealsOffice100,000 SF
Sold 07/13/2022
+ 2
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$120
Total Square Footage:100,000 SF
Transaction Type:Sale
The office property located at 1305 Union Plaza Court in Oceanside has been sold. The transaction took place on July 13, 2022, and the property consists of approximately 6.0 acres. The sale was facilitated by Peter Curry, Jason Kimmel, and Tim Winslow from Cushman & Wakefield, representing the seller, Sunrise Capital LLC. The buyer, The Classical Academies, was represented by Jon Walters and Jim Benson from Kidder Mathews.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $12,000,000
- Address: 1305 Union Plaza Court, Oceanside
- Market: Oceanside
- Square Footage: 100,000
- Price per Square Foot: $120
The sale price for the property was $12,000,000, with a total area of 100,000 square feet and a price per square foot of $120. This transaction signifies a significant investment in the office market in Oceanside. The Classical Academies, a renowned educational institution, has acquired this property from Sunrise Capital LLC through the representation of Jon Walters and Jim Benson from Kidder Mathews.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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